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Reply to "Is it a good time to buy now?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you need a mortgage, I’d say this is the worst time to buy in over 21 years. Interest rates on home mortgages are at the highest level they have been in over 21 years. Check the news headlines. I would never buy in this market.[/quote] :roll: "over 21 years" such a dimwit [img]https://assets.themortgagereports.com/wp-content/uploads/2023/06/Historical-30-Year-Mortgage-Rates-1971-2023.png[/img] [/quote] The dimwit here is obvious[/quote] The graph is for 52 years. So yes bad time to buy. [/quote] 1)the graph isn’t updated showing the current rates 2)current rates are worst in over 21 years 3) historically high rates, going back multiple decades as shown in the graph, occurred at much much lower home prices when adjusted for inflation. Home prices today are high to reflect a low interest rate environment, which is no longer true, but home prices remain high.[/quote]
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